Association of Local Governments of Nigeria (ALGON), Osun State chapter, has accused the Central Bank of Nigeria (CBN) of colluding with some members of the All Progressives Congress (APC) to illegally open bank accounts in the names of local governments.
 
At a press conference in Osogbo yesterday, the state ALGON chairman, Sarafadeen Awotunde, flanked by other members of the association, alleged that the scheme was exposed when Mr Kunle Adegoke (popularly known as KRAD), an APC governorship aspirant and counsel for the party, admitted on a live television programme that CBN had opened accounts for councils in Osun with APC members as signatories.
 
“On the 28th of August, 2025, during a live broadcast of the ARISE TV Morning Show, Mr. Kunle Adegoke openly admitted that the Central Bank of Nigeria had opened accounts in the names of local government councils in Osun State, and that the signatories to those accounts were not the legitimate civil servants but members of the APC recruited to claim local government civil service positions and offices illegally,” the ALGON leadership declared.
 
The council bosses condemned the development as “a brazen illegality” and “an attempt to divert Osun people’s money into private and political pockets.”

They stressed that by law, only statutory civil servants such as heads of local government administration, directors of administration and directors of finance were the recognised signatories to council accounts. 
 
ALGON further pointed out that the individuals parading themselves as APC council chairmen lacked legitimacy, citing judicial pronouncements that had voided their elections. 
 
The chairman expressed alarm that officials of the Osogbo branch of the CBN allegedly turned away genuine civil servants when they attempted to open the local government accounts, while accepting APC members as signatories. 
 
“This action is a brazen illegality, a disregard for subsisting court judgments, an infraction against banking and public account rules, and a direct threat to the welfare of the people of Osun State whose funds are at stake,” they said.
 
To back up their claim, ALGON said it had submitted certified documents, including copy of the regulation prescribing statutory signatories to local government accounts; the withdrawal of certificates of return earlier issued to the sacked APC chairmen by the Osun State Independent Electoral Commission (OSSIEC); valid certificates of return issued to ALGON leaders on February 22, 2025; and the two court judgments affirming their legitimacy.
 
The group demanded that “the Governor of the Central Bank must immediately probe the actions of its officials in Osogbo and call the APC lawyer, Mr Kunle Adegoke, to substantiate his claims on national television.”
 
ALGON also queried why Osun State appeared to be singled out by the federal authorities in the disbursement of local government funds. 
 
The chairmen concluded with a pledge to resist what they called a dangerous plot against the people of the state.